Siemens to support financing of power plants in Nigeria

German company Seimens Energy Sector has signed an agreement with the Nigerian government for what it calls ‘strategic partnership’ to support the financing of power plant projects in Nigeria.

In a press release issued by Siemens in Germany and copied to ghanabusinessnews.com April 20,2012, the company says it signed the agreement with the Nigerian Federal Ministry of Power in order to strengthen their strategic partnership.

“Under the terms of the agreement, Siemens will on a case-by-case basis consider to support the financing of power plant projects in Nigeria,” it said.

The release indicated that the deal was signed when  the President of the Federal Republic of Nigeria, Goodluck Jonathan, the Federal Minister of Power, Prof. Bart Nnaji, and an attached high-ranking political and industrial delegation, visited the Siemens gas turbine factory in Berlin on April 20, 2012.

Siemens also announced plans to build up a new service workshop for heavy duty gas turbines in the country and will support Nigeria with a study on the integration of renewables in the country`s energy mix.

Furthermore, it says, the Nigerian company, Scanpower and Siemens signed a technical partnership agreement for the construction of a 1,600 megawatts (MW) gas turbine power station at Lekki in Lagos state.

“A reliable and affordable supply of electricity is the decisive factor in further developing Nigeria´s economy and society”, said Michael Suess, CEO of the Energy Sector and member of the Managing Board of Siemens AG.

“The agreements shall be mutually beneficial to the economy of Nigeria via significant advancements in the power sector as well as for the business of Siemens in one of the most important markets in Africa. Lagos, as one of the fastest growing mega cities in the world, is seeking for a significant improvement in its power supply,” he added.

By Emmanuel K. Dogbevi